June 2016 Witnesses Strong Rebound of US Job Creation

  • After a disappointing job growth story in May 2016, US job creation growth rate rebounded strongly in June 2016 as 287,000 jobs were created. However, unemployment rate also rose marginally from 4.7 per cent in May to 4.9 per cent in June. Labor Department figures say that 59,000 jobs were created in leisure and hospitality sector, 44,000 in information technology employment, 29,900 jobs in retail sector, and 14,000 in manufacturing. Assistant economist at Capital Economist, Andrew Hunter, regarded sharp slowdown in preceding months as a blip.